Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $122.45, but opened at $126.80. Astera Labs shares last traded at $125.96, with a volume of 542,834 shares trading hands.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the stock. Citigroup started coverage on shares of Astera Labs in a research note on Monday, November 18th. They set a "buy" rating and a $120.00 price objective on the stock. Needham & Company LLC restated a "buy" rating and issued a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised their price objective on Astera Labs from $70.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their target price on Astera Labs from $60.00 to $100.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Finally, Barclays lifted their price target on Astera Labs from $70.00 to $87.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $94.67.
Read Our Latest Stock Report on ALAB
Astera Labs Stock Performance
The business's fifty day moving average price is $87.04 and its 200-day moving average price is $63.85.
Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The company had revenue of $113.10 million for the quarter, compared to analysts' expectations of $97.50 million. The company's quarterly revenue was up 47.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current year.
Insider Buying and Selling
In other Astera Labs news, Director Jack R. Lazar sold 2,000 shares of the company's stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $69.95, for a total transaction of $139,900.00. Following the completion of the sale, the director now directly owns 135,000 shares of the company's stock, valued at approximately $9,443,250. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sanjay Gajendra sold 76,701 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the transaction, the insider now owns 855,000 shares in the company, valued at $38,748,600. The trade was a 8.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,154,820 shares of company stock valued at $195,106,438 over the last 90 days.
Institutional Trading of Astera Labs
Hedge funds have recently bought and sold shares of the stock. Hollencrest Capital Management purchased a new stake in shares of Astera Labs in the third quarter worth $26,000. US Bancorp DE bought a new position in Astera Labs in the 3rd quarter worth $46,000. First Horizon Advisors Inc. purchased a new stake in Astera Labs in the 3rd quarter worth $49,000. Allworth Financial LP raised its holdings in Astera Labs by 445.5% during the third quarter. Allworth Financial LP now owns 1,091 shares of the company's stock valued at $57,000 after acquiring an additional 891 shares during the period. Finally, Amalgamated Bank purchased a new position in shares of Astera Labs in the second quarter valued at about $74,000. Institutional investors own 60.47% of the company's stock.
About Astera Labs
(
Get Free Report)
Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.
Further Reading
Before you consider Astera Labs, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Astera Labs wasn't on the list.
While Astera Labs currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Click the link below to learn more about using beta to protect yourself.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
